Wall Street turns lower after missile

Wall Street turns lower after missile

US stocks opened lower on Tuesday, rattled after North Korea fired a missile over Japan and US President Donald Trump warned that “all options are on the table”.

Investors turned to safe haven assets such as gold, which spiked almost 3% on Tuesday.

The Dow Jones, a basket of 30 major US companies, fell 0.3% to 21,741.27, while the wider S&P 500 index dropped almost 0.4% to 2,435.1.

The Nasdaq was down 0.35% at 6,260.9.

Financial companies led the losses in morning trade. JP Morgan Chase was down more than 1%, while Morgan Stanley fell more than 2%.

US investors are also trying to assess the damage caused by Tropical Storm Harvey in Texas and the Gulf of Mexico, which has caused billions in flood and wind damage, while causing major shutdowns in oil and gas production and refining.

Shares of energy companies such as Chevron and ExxonMobil fell, but other firms, such as home improvement retailers, are expected to benefit.

Source: BBC News

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